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HSBC to keep best lending rate at 5 pct in Hong Kong
June 15, 2017 / 9:46 AM / 5 months ago

HSBC to keep best lending rate at 5 pct in Hong Kong

HONG KONG, June 15 (Reuters) - HSBC Holdings Plc will maintain its best lending rate at 5 percent in Hong Kong, the bank said on Thursday, after the territory’s defacto central bank raised its discount window base rate.

The Hong Kong Monetary Authority earlier raised the base rate charged through its overnight discount window by 25 basis points to 1.50 percent, following a similar move by the U.S. Federal Reserve.

HSBC’s best lending rate in Hong Kong was last changed on Nov 10, 2008, when it was lowered by 25 basis points, the bank said in a statement, adding it would also not change its savings rate for Hong Kong dollar savings deposits. (Reporting by Donny Kwok; Editing by Clarence Fernandez)

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